send me written notes cost accounting
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send me written notes cost accounting
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Answer:
Costs may be ascertained:
(i) Historically; i.e. after they have been incurred; or
(ii) By predetermined standards combined with subsequent analysis of variances between these standards, and the actual cost incurred; and
(iii) By the use of marginal methods of presentation for either (a) or (b), involving the differentiation between “fixed” and “variable” costs.